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Jones Energy to Emerge From Chapter 11 Bankruptcy by May 17

May 6, 2019

Texas-based Jones Energy, Inc. announced that its prepackaged Chapter 11 bankruptcy reorganization plan was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas, Houston Division, according a company press release issued on Monday.

Currently engaged in the exploration and development of oil and natural gas properties in the Anadarko basin of Oklahoma and Texas, the company’s bankruptcy is specifically designed not to impact company operations by implementing a financial restructuring of Jones’ balance sheet.

Creditors favorably supported Jones’ restructuring plan, which allows for the company to successfully emerge from Chapter 11 bankruptcy proceedings by May 17, 2019.

“In the coming weeks, the company will emerge from Chapter 11 in a stronger financial position and postured for long‑term success, with the flexibility to create value for our customers and stakeholders,” said Carl Giesler, Director and Chief Executive Officer of Jones Energy.